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Korean Yard News

13 Feb 2024

Stena Bulk Inks Deal for Four Additional Newbuild Tankers

Erik HĂ„nell, President and CEO of Stena Bulk (Credit: Stena Bulk)

Swedish shipping company Stena Bulk has expanded its fleet with new long-term charter agreements for four newbuild eco Medium Range (MR) tankers.Two of the vessels, Stena Continent and Stena Conquest, will be delivered from Hyundai Mipo by the end of 2025.Two further eco MR tankers, Stena Contender and Stena Concept, will follow in 2026. All vessels are set to use the South Korean yard’s latest 8th generation MR tanker design, which has been recognized for its excellent efficiency performance.The tankers will feature efficient fuel consumption systems


19 May 2020

Damen Equipment for Korea's Oil Spill Recovery/Dredging Vessel

Image Credit: Damen

Dutch Damen Shipyards Group has signed a deal with Korean yard Hanjin Heavy Industries and Construction (HHIC) to deliver components for an oil recovery/dredging vessel. Under the deal, Damen will deliver all equipment for oil recovery operations as well as a complete dredging installation. The 5,000 tons, 4,100 m3 vessel multi-purpose vessel will primarily act as an oil recovery vessel, and will undertake work as a hopper dredger when not tending to emergencies.The equipment package comprises the dredging gear, the oil sweeping gear, and the electric and hydraulic system.

25 Nov 2019

Gunvor to Charter Flex LNG Newbuild

Commodity trader Gunvor Group will charter a liquefied natural gas (LNG) carrier from shipping firm Flex LNG for up to 10 years, the two companies said on Monday.Geneva-based Gunvor, which has said it wants to take a lead in energy transition by investing in cleaner natural gas, last year became the biggest trader in the burgeoning LNG market.The initial contract is for five years, with options to extend to 10, the firms said. The vessel, with capacity to transport 173,400 cubic meters of LNG, is under construction at Korean yard Daewoo Shipbuilding & Marine Engineering."We look forward to taking delivery of one of the most technologically advanced LNG vessels in the world to serve our long term portfolio


03 Jun 2019

TORM Adds Four MR Tankers

Danish shipping operator TORM has reached an agreement to acquire four modern 2011-built MR vessels “at an attractive price point”."Looking into an improving demand-supply situation for the transportation of clean petroleum products, we believe that the timing for a fleet expansion with modern vessels is appropriate and underlines the flexibility provided by our strong capital structure," says Executive Director Jacob Meldgaard.A press release from the carrier of refined oil products said that it has agreed to buy the quartet for a total consideration of USD 83m with expected delivery between August and December 2019.The vessels are built at the Korean yard Hyundai Mipo.

01 Mar 2019

Teekay, Samsung Opt for Hydroniq Coolers

Norwegian supplier Hydroniq Coolers has won contracts from Samsung Heavy Industries Co. Ltd. (SHI) to deliver the cooling system for the engines of the six LNG-fuelled shuttle tankers the shipbuilder is constructing for Teekay Offshore.As per the contracts, Hydroniq Coolers – formerly named Sperre Coolers – will deliver its Hydroniq Rack seawater cooling solution that is integrated in the hull below the main engine room of the vessels. Marine cooling systems are utilised to reduce temperatures in the ships’ engines and other auxiliary systems through use of seawater.Hydroniq Coolers has not disclosed the value of the contracts.“Teekay Offshore and Samsung have chosen the industry’s most energy efficient and maintenance friendly efficient marine seawater cooler.

01 Jul 2018

Ocean Rig Postpones SHI Drillship Delivery Till 2020

International offshore drilling contractor Ocean Rig UDW Inc. and South Korean yard Samsung Heavy Industries (SHI) have agreed to postpone the delivery of the newbuild drillship Ocean Rig Crete to September 2020. "Our subsidiary, that is party to the shipbuilding contract for the construction of its 8th generation enhanced integrated design newbuilding drillship, the Ocean Rig Crete, reached an agreement with SHI to postpone the delivery of the Ocean Rig Crete to September 2020," said a press release from the company. Under the agreement reached with SHI the expected delivery date will be September 30, 2020 but may be brought forward at the option of the Company.

30 May 2018

Nordic American Tankers Confirms Sale of Two Vessels

Nordic American Tankers Limited has confirmed the sale of two vessels, adjusting the fleet from 33 to 31 suezmaxes in the short term. The shipping company focused on Suezmax crude tankers indicated a possible sale of two vessels early this month. The sale of vessels is, however, a part of the company's plan to expand as NAT has three newbuildings coming from a Korean yard. The newbuildings are joining our fleet during the second half of 2018. The commercial life of a suezmax could be 20 years or more. Therefore, such transactions are a natural part of our business. The total cash to NAT from the sale of these two vessels is between $9 million and $10 million per vessel. This message is an indication of the commercial and financial flexibility of NAT.

21 Feb 2018

Eco Ships: The New Norm for Top Tier Ships

VesselsValue.com

The high average cost of bunker fuel over the past decade led to increased interest in fuel efficiency. Shipowners have a difficult time demanding higher rates in response to cost increases. This makes any savings they can realize on operational and fuel costs critical. Fuel costs account for about 70 to 85 percent of the cost of running a ship, so savings realized in consumption go to their bottom line. Ships which travel at a higher speed, such as gas carriers and container vessels, see the highest percentage adaptation.

08 Nov 2017

DSME Posts Profit for Q3

South Korean yard giant Daewoo Shipbuilding and Marine Engineering (DSME) ended the third quarter of this year with a profit of KRW 45.7 billion (USD 41 million), compared to a net loss of KRW 284 billion posted a year earlier, Yonhap said. The troubled shipbuilder is significantly better off than last year after a rescue package from the South Korean government in the spring. DSME, which has battled a highly publicised liquidity crunch for the past two years,  posted profit for the third straight quarter from July through September, largely thanks to cost-cutting measures and increased delivery of offshore facilities. The improvement in the bottom line marks the third straight quarter that the shipyard remained in the black.

05 Sep 2017

Smart Ships: Inmarsat, Samsung Heavy Industries Partner

Ronald Spithout, Inmarsat Maritime President (Photo: Inmarsat)

Satellite communications services provider Inmarsat said it has signed a Memorandum of Understanding (MoU) with shipbuilder Samsung Heavy Industries (SHI), establishing a relationship to leverage the ‘smart ship’ connectivity offered by Fleet Xpress at the vessel construction stage. The agreement envisages the South Korean yard installing Inmarsat-approved terminal hardware and offering applications to cover remote machinery diagnostics and CCTV services, to leverage the satellite communications platform’s capabilities from the moment the ship is delivered.

24 Aug 2017

Shipbuilding: Mega Yards

Arctic Firsts: Arc 7 LNG carriers, including the Risunok and the ice-breaking Christophe de Margerie (pictured here). (Photo Courtesy: Yamal LNG and Sovcomflot)

The Woodmac report we saw offered us cause for pause — “Strong activity from the (major oil companies)” while “national oil companies have tightened their purse strings.” What Maritime Reporter found, was that national oil companies — nation-builders, for many — are putting their money in affiliate shipyards. The hope of two, new shipbuilding giants is jobs, innovation, national survival and export security. The model is to invite those who have done it before: Koreans, Japanese, French and a contractor with offshore and marine experience.

02 May 2017

TMC Compressors for Höegh FSRU

Photo: Höegh LNG

TMC Compressors (TMC) said it has penned a contract with shipbuilder Hyundai Heavy Industries to supply a complete marine compressed air system to a new-build floating storage and regasification unit (FSRU) the South Korean yard is building for Höegh LNG. TMC scope of work includes engineering, manufacturing and supply of a complete compressed air system consisting of 2 x 44 kW service air compressors and 2 x 44 kW control air compressors. The contract value is undisclosed. “This is the 8th or 9th FSRU that Hyundai Heavy Industries is building for Höegh LNG


22 Aug 2016

Fred.Olsen Energy, Hyundai Settle Rig Dispute

Rig firm Fred. Olsen Energy and South Korean yard Hyundai Heavy Industries settle dispute over construction of semi-submersible rig Bollsta Dolphin. Shares in Fred. Olsen Energy up 17 percent at 0736 GMT on the news, after rising 37 percent at the opening of the Oslo bourse. Ownership of platform will be retained by Hyundai and arbitration proceedings associated with disputes have been terminated by consent. Fred. Olsen Energy's subsidiary firm Bollsta Dolphin will receive about $176.4 million from Hyundai of first installment paid by Bollsta. Reporting by Gwladys Fouche

18 Mar 2016

Croatian Shipyard Wins RoRo Ship Orders

(Photo: CLdN RoRo SA)

Making good on it's announcement in the autumn of 2015 to ambitiously expand its RoRo fleet, CLdN Ro-Ro SA confirms that two additional ships have been ordered, with options for another four, through the Croatian shipbuilder Uljanik. European short Sea RoRo specialist CLdN RoRo SA, which operates 24 modern RoRo vessels, offering in excess of 100 sailings per week between the ports of Zeebrugge, Rotterdam, London, Killingholme, Dublin, Gothenburg, Esbjerg and Porto had previously announced its intention to add 12 new vessels to its fleet over the coming years.

01 Oct 2015

Hapag-Lloyd Secures Financing for Five Newbuilds

The new ships are being built by the South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI). (Photo Hapag-Lloyd)

Container shipper Hapag-Lloyd announced it has signed a 12-year $372 million facility agreement with a banking syndicate to finance the construction of five new vessels ordered from a South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) in April 2015. Hapag-Lloyd did not specify the total investment volume of the order, but said it lies in the mid three-digit million dollar range. The five new 10,500 TEU vessels, due for delivery between October 2016 and May 2017, will be deployed primarily on the South American routes and will expand the shipper’s reefer capacity with 2


18 May 2015

Newbuild Shuttle Tankers Feature Hybrid EGCS

Eagle Barents (Photo: Clean Marine)

The 120,000 dwt. tankers, Eagle Barents and Eagle Bergen, delivered from Samsung Heavy Industries (SHI), are fitted with Class and Flag State approved exhaust gas cleaning systems (EGCS) provided by Clean Marine. Measurements of exhaust gas emission and washwater criteria are well below the limits required by the IMO, ensuring the vessels’ compliancy with the 0.1% sulphur limit in ECAs which has been in force since January 1 of this year. The vessels are also compliant with the stricter US EPA requirements of a pH above 6 in washwater, measured at the outlet.

27 Mar 2015

Hamburg Süd Christens Third San Class Ship

Christening in Montevideo: (left to right) Captain Uwe Köhler, Roland Maier, Sponsor Elisa Maier and Frank Smet, member of the Hamburg SĂŒd Executive Board (Photo: Hamburg SĂŒd)

Hamburg Süd christened its third container vessel in the new San class yesterday, officially naming newbuild San Vicente at the Cuenca del Plata terminal in Montevideo. The new ship class in the Hamburg Süd fleet has a nominal container slot capacity of around 9,000 TEU and with 1,370 reefer slots for refrigerated containers a correspondingly high reefer capacity. San Vicente’s sponsor is Elisa Maier, wife of Roland Maier, owner of the Swiss Commodity Supplies AG, with which Hamburg Süd has been working for many years.

29 Dec 2014

RS to Class Newbuild Arctic Tankers

Russian Maritime Register of Shipping (RS) has signed an agreement with South Korean yard Samsung Heavy Industries Co. LTD for design approval and survey under construction of a new series of 42,000 dwt Arctic shuttle oil carriers (project 42К Arctic Shuttle Tanker). The new tankers are designed to complete a set of tasks of hydrocarbons transportation from Novoportovskoye field, which is situated in the north of Yamal peninsula, 30 km off the Gulf of Ob coast. The propulsion unit with two Azipod azimuth thrusters and a special hull shape will enable the ships to operate year-round in harsh Arctic conditions. Construction is scheduled to begin in April 2015 and conclude by the end of 2017. The series, comprising six ships will be constructed to dual RS / LR class.

29 Sep 2014

Hamburg Süd Christens “Cap San Antonio”

On Friday, Hamburg Süd celebrated the christening of its container ship “Cap San Antonio” at the Cruise Terminal of Le Havre, France, with customers and business partners. The sponsor is Veronika Schüller, wife of Prof Dr Stephan Schüller, Chairman of the General Partners of Bankhaus Lampe KG. The “Cap San Antonio” is one of a series of six new ships of the “Cap San” class built for Hamburg Süd at the Korean yard Hyundai Heavy Industries in Ulsan. All newbuildings of this class each have a nominal slot capacity of 9,600 TEU, making them the shipping group’s largest vessels. With 2,100 container plugs, they have the largest reefer capacity worldwide, thereby underscoring one of Hamburg Süd’s core competences in the transport of refrigerated cargo.

03 Sep 2014

StealthGas Announces Newbuilds, New Vessel Contracts

StealthGas Inc., a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today as part of its fleet expansion program the acquisition of two newbuilding LPG vessels. The company exercised the acquisition options with a Korean yard and the additions to the fleet consist of two 22,000 cbm semi refrigerated eco LPG carriers scheduled to be delivered in the second and third quarter of 2017, respectively. The company expects that the acquisition of these larger semi refrigerated eco LPG carriers that can load LPG with high ethane content, will complement well its already leading position in pressurized vessels.

03 Feb 2014

Dockwise Liftboats to Transport New Statoil Offshore Rigs

Artist's impression of 'White Marlin' courtesy of Dockwise

Dockwise, a wholly-owned subsidiary of Royal Boskalis Westminster N.V. (Boskalis) inform it has been awarded a contract by Statoil Petroleum AS for the transportation of two very large new jack-up drilling rigs from Korean shipbuilders to the North Sea, said to be the largest and heaviest jack-up rigs ever to be transported on a heavy marine transport vessel. The two rigs are on order with a South Korean yard and are scheduled to be transported to Norway between the second half 2016 and the second half 2017.

20 Jan 2014

Korean Yard to Build World's Largest Container Ship for CSCL

Shipyard workers: File picture

Hyundai Heavy Industries (HHI) say they have begun building the first of five 19,000 TEU container ships for China Shipping Container Lines (Hong Kong). HHI explain that the shipowner upgraded the original order for five 18,400 TEU containerships to ones capable of delivering 600 more containers, and thus these new ships will be the largest container ships ever built they claim. The new container ships will feature 77,200 bhp electronically-controlled main engines which will maximize fuel efficiency


18 Dec 2013

New Thai Navy Frigate to Include Atlas Elektronik Sonar

Atlas Elektronik GmbH has been commissioned by the Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) with the supply and integration of a bow sonar (ASO) as well as a low-frequency active towed array sonar (ACTAS) for a new frigate of the Royal Thai Navy. Delivery of the systems is planned to take place early in 2016. Together, the two systems offer active and passive sonars for the detection, tracking and classification of underwater vehicles, such as submarines, torpedoes and unmanned underwater vehicles (UUV).

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